Plan Snapshot
- Plan Sponsor: Business Impact Group, LLC
- Sponsor EIN: 200826767
- Sponsor Address: 2411 GALPIN CT STE 120, CHANHASSEN, MN, 553174634
- Plan Type: 401(k)
- Total Participants: 96
- Total Assets: $5.9M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: Yes
- Participant Loans: No
- Participant-Directed Investments: Yes
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 96 | $5.9M | $0 | $559,410 |
| 2023 | 99 | $6.6M | $0 | $535,477 |
| 2022 | 97 | $5.4M | $0 | $533,857 |
Service Providers (Schedule C)
Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).
| Provider Name | Role | Direct Compensation | Indirect Compensation | Total Fees |
|---|---|---|---|---|
| BOYUM BARENSCHEER PLLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- BOYUM BARENSCHEER PLLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $0
Historical Administrative Expenses
Breakdown of administrative expense categories reported on Form 5500 filings.
| Year | Total Admin Expenses | Investment Mgmt Fees | Contract Admin Fees | IQPA Audit Fees | Professional Fees |
|---|---|---|---|---|---|
| 2024 | $56,273 | — | $56,273 | — | — |
| 2023 | $56,976 | — | $56,976 | — | — |
| 2022 | $50,458 | — | $50,458 | — | — |